Lack of Supply for Bear Head LNG Prompted Acquisition
Posted on Jul 31, 2006 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Lack of Supply for Bear Head LNG Prompted Acquisition
The lack of success in securing natural gas supply for Anadarko Petroleum Corp.’s Bear Head LNG terminal in Nova Scotia influenced the company’s decision to purchase Kerr-McGee and Western Gas Resources for $21 billion, according to Anadarko CEO and president Jim Hackett. He explained during a conference call on Friday that the difficulty in securing long-term supply is a global problem and one not limited to the United States. The Houston Chronicle has the story.